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$2.7B of the Binance hack was saved by Tether and Circle freezes. What does that say about decentralization?

r/CryptoCurrency/u/No-Spot43388h ago6/10

Reddit argument that Tether, Circle, Ripple freezes and Arbitrum's Security Council saved about $2.7B of the Binance hack, undercutting the decentralization narrative. Opinion, but a pointed one.

#Security#Stablecoins
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    'Elite North Korean hackers' blamed for $6.3B Binance hack

    theguardian.com21h ago8/10

    Attribution of the $6.3B Binance hack to North Korean TraderTraitor hackers, the largest theft story of the moment.

    Also covered by Galaxy Research
    #Security
  2. 2

    Binance hit by $5.8B hack as Tether and Circle freeze billions

    Cointelegraph1d ago9/10

    Binance is investigating a multibillion-dollar hot wallet breach, with Tether and Circle freezing over $2.36B in stablecoins; the figures are still shifting.

    Also covered by CoinDesk, Protos, Decrypt, Chainalysis +6 more
    #Security#Stablecoins
  3. 3

    Binance is investigating a major security incident that resulted in unauthorized withdrawals estimated to have a financial impact of about $6.3 billion, the cryptocurrency exchange said.

    r/CryptoCurrency15h ago8/10

    Binance reports a security incident with unauthorized withdrawals estimated at $6.3 billion.

    #Security#Markets
  4. 4

    18,270 BTC left a Binance hot wallet in one transaction, and no one can freeze it. Censorship resistance cuts both ways, and so does "not your keys"

    r/Bitcoin18h ago8/10

    On-chain tracing via TRM Labs shows 18,270 BTC left a Binance hot wallet in one transaction, and the BTC cannot be frozen, unlike stablecoins. A sharp look at censorship resistance.

    #Security#Bitcoin
$2.7B of the Binance hack was saved by Tether and Circle freezes. What does that say about decentralization? · CryptoBloggers